The software assists Project Managers to set realistic goals for project teams and customers. Microsoft Project creates budgets based on assignment work and resource rates. As resources are assigned to tasks and assignment work, Microsoft Project calculates the cost equals the work times the rate.

Since being released in 1984, it has become the world’s most popular project management software. There is a wide-range of reporting tools that allow the user to easily produce charts, schedules and listings of the project stages and resources. Combined with the calendar function within the program, this allows real-time tracking of the project and gives a clear overview of its progress. Amendments to the project can be made at any time, and are immediately reflected in the reports and screen displays.

It is beneficial for anyone within the management roles to be aware of Microsoft Project.